By Ardi Wirdana
The deal marks CapitaLand’s second office acquisition in Germany in less than six months.
The company said the deal is expected to raise at least $125 million in revenues and put the spotlight on a prime property once dubbed as “Asia’s Paradise Resort”.
Freehold development Cairnhill Astoria, located in Singapore’s Cairnhill Rise, has been put on collective sale for $146 million
A Singapore court has ordered PropertyGuru to pay rival 99.co an equivalent of 40% of its legal costs acquired as a result of a copyright infringement lawsuit involving the two.
Gaw follows the moves of foreign investors Bain Capital, Blackstone and Oaktree Capital.
At present, Ascendas India Trust operates around 12.6 million sq. ft of office space in Bengaluru, Mumbai, Pune, Chennai and Hyderabad.
GIC will also be acquiring a minority stake in Nova as part of the agreement.
The Kanakia group is looking to utilize the land either for mixed used development or building residential projects.
Blockchain-powered real estate investment portal BitofProperty has secured funding from Japanese real estate and housing information services provider LIFULL.
GIC said the joint venture will acquire Kumho Asiana Main Tower, located in the centre of Gwanghwamun, from Asiana Airlines’ parent company Asiana Group.